ConnectOne Bank files 3 pre-foreclosure actions totaling $17.6M in Bronx

ConnectOne Bank filed three pre-foreclosure actions totaling $17.6 million against a single owner in the Bronx. The suits alleges the owner, David Kleiner, has defaulted on the loans.
Court filings represent the position of one party and are not necessarily accurate or complete.

Prior to this, ConnectOne Bank filed at least seven pre-foreclosure actions in New York City since December 2020 for a total of $30.6 million in original principal, according to PincusCo data.

In the largest of the three new suits, David Kleiner as manager bought the building at 1422 Nelson Avenue in February 2018 for $11 million, and borrowed $7.36 million from the Bank of New Jersey. Since 2020, the owner has sued at least 18 tenants for holdover or nonpayment allegations. The city sued the owner in April 2023 over allegedly not supplying heat or hot water, and one tenant has sued the owner, seeking repairs. (ConnectOne Bank acquired Bank of New Jersey in 2020) The elevator building with 72 residential units in Mt Eden has 70,500 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 125 feet deep with a total lot size of 18,750 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.8 million. LINK

According to the complaint, “Borrower defaulted under the Loan Documents referenced above by reason of, among other things, Borrower’s failure to make monthly payments due on May 1, 2023, and June 1, 2023, and Borrower’s failure to repay the outstanding Loan amount due to Lender on the Maturity Date.”

The second suit is for $6.6 million, secured by the walkup building at 337 East 146th Street with 28 residential units in Mott Haven that has 24,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 154 feet deep with a total lot size of 7,688 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.4 million. LINK

Also in the second suit, is the walkup building at 341 East 146th Street with 30 residential units in Mott Haven that has 24,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 154 feet deep with a total lot size of 7,686 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.1 million.

The third suit is for $3.58 million, secured by the walkup building at 454 East 160th Street with 28 residential units in Melrose that has 20,580 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 49 feet and is 100 feet deep with a total lot size of 4,900 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1 million. LINK

Direct link to the property’s ACRIS page.